Indie Asset Partners LLC reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,179 shares of the credit services provider’s stock after selling 72 shares during the quarter. Indie Asset Partners LLC’s holdings in PayPal were worth $510,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. NorthCoast Asset Management LLC grew its stake in PayPal by 144.4% in the fourth quarter. NorthCoast Asset Management LLC now owns 6,759 shares of the credit services provider’s stock valued at $1,583,000 after acquiring an additional 3,994 shares during the period. Rational Advisors LLC boosted its position in shares of PayPal by 302.4% during the fourth quarter. Rational Advisors LLC now owns 5,545 shares of the credit services provider’s stock valued at $1,299,000 after buying an additional 4,167 shares during the last quarter. DDD Partners LLC boosted its position in shares of PayPal by 5.2% during the fourth quarter. DDD Partners LLC now owns 24,054 shares of the credit services provider’s stock valued at $5,633,000 after buying an additional 1,187 shares during the last quarter. Altium Wealth Management LLC boosted its position in shares of PayPal by 7.1% during the fourth quarter. Altium Wealth Management LLC now owns 10,979 shares of the credit services provider’s stock valued at $2,571,000 after buying an additional 732 shares during the last quarter. Finally, Miracle Mile Advisors LLC boosted its position in shares of PayPal by 74.3% during the fourth quarter. Miracle Mile Advisors LLC now owns 6,191 shares of the credit services provider’s stock valued at $1,456,000 after buying an additional 2,639 shares during the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.
Shares of NASDAQ:PYPL traded down $13.95 during trading on Tuesday, hitting $259.90. The stock had a trading volume of 947,361 shares, compared to its average volume of 9,504,380. PayPal Holdings, Inc. has a 12 month low of $82.07 and a 12 month high of $309.14. The company has a market capitalization of $304.39 billion, a PE ratio of 103.34, a PEG ratio of 3.53 and a beta of 1.12. The firm’s fifty day moving average is $257.47 and its 200 day moving average is $216.29. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.48.
Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on PayPal from $290.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, February 12th. Seaport Global Securities started coverage on PayPal in a research report on Monday, December 7th. They set a “neutral” rating on the stock. Bank of America reiterated a “buy” rating and set a $282.00 price target (up from $235.00) on shares of PayPal in a report on Friday, January 22nd. Moffett Nathanson boosted their target price on PayPal from $280.00 to $300.00 in a research note on Friday, January 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on PayPal from $234.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, December 22nd. Six equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company. PayPal has an average rating of “Buy” and an average price target of $274.68.
In related news, CEO Daniel H. Schulman sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, December 11th. The stock was sold at an average price of $212.65, for a total value of $5,316,250.00. Following the sale, the chief executive officer now owns 171,102 shares in the company, valued at approximately $36,384,840.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Adele Louise Pentland sold 6,370 shares of the company’s stock in a transaction that occurred on Wednesday, February 17th. The stock was sold at an average price of $298.00, for a total value of $1,898,260.00. Following the completion of the sale, the executive vice president now owns 52,907 shares in the company, valued at approximately $15,766,286. The disclosure for this sale can be found here. Insiders sold a total of 63,189 shares of company stock valued at $16,453,133 in the last three months. Corporate insiders own 0.12% of the company’s stock.
PayPal Company Profile
PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and iZettle products. The company's payments platform allows consumers to send and receive payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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